To be established within the Japan Society for the Promotion of Science by way of an allocation from the Japanese government's FY2009 supplemental budget, the Researcher Overseas Visit Fund will be operational through 31 March 2014. Over this period, the Fund will be used to carry out a concentrated overseas dispatch of young researchers, who promise to be the mainstay of Japan's future socioeconomic development.

Under the Fund's "Institutional Program for Young Researcher Overseas Visits," support is given to Japanese universities and other research institutions that carry out programs to offer undergraduate and graduate students, postdocs, research associates, assistant professors, lecturers and other equivalent young researchers opportunities to go abroad to overseas research institutions or research venues for the purpose of conducting research activities. The ultimate objective of the program is to foster the kind of highly capable researchers with broad international perspectives upon whose shoulders Japan can entrust its future.